- Bitget asks THORChain to reject transactions from publicly identified attacker addresses.
- The exchange revises its loss estimate to $387.5 million after accounting for additional affected assets.
- Recovery rewards offer 5% for eligible fund freezes and 5% for successful recoveries.
Bitget CEO Gracy Chen has asked THORChain to reject transactions from addresses linked to the exchange’s September 24 breach. Her request follows reports that attackers are moving stolen assets through the protocol.
Bitget puts the theft at $387.5 million. Meanwhile, blockchain tracking platform MistTrack says the attacker addresses are publicly identified and under surveillance.
THORChain Defends Its Permissionless Cross-Chain Design
Chen argues that decentralization should not excuse facilitating transfers of known stolen assets. In her public statement, she formally requests that the protocol refuse service to the flagged addresses.
THORChain expresses sympathy for those affected but stresses its decentralized, permissionless structure. It asks what responsibility Bitcoin, Ethereum and BNB Chain should bear when their networks process stolen funds.
MistTrack links the dispute to the February 2025 Bybit hack. The tracking platform says nearly $1.2 billion from that theft subsequently passed through THORChain.
Its criticism focuses on continued swaps involving publicly flagged wallets. The supplied statements do not establish that the protocol has accepted Chen’s request or implemented address restrictions.
Bitget Revises Loss Estimate and Offers Recovery Bounties
Bitget’s September 25 update raises the estimated theft from $351.6 million to $387.5 million. It attributes the difference to previously uncounted Zcash and TRON transfers, rather than additional unauthorized withdrawals.
The exchange says it has fixed the underlying vulnerability and contained the incident. Mandiant and SlowMist are assisting its investigation and security checks.
Beyond its request to THORChain, Bitget has published a live tracing dashboard and an attacker-address API. These tools track fund movements and identify additional wallets as the investigation progresses.
Its recovery program offers eligible contributors 5% of successfully frozen funds and 5% of successfully recovered assets. Bitget says industry partners have already helped freeze some funds, without specifying a total in the update.
Actions performed under court orders, law-enforcement requests or other legal processes do not qualify for the rewards.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
